Ardour Capital Downgrades EnerNOC (ENOC) to Hold; Growth Concerns Cloud Short Term Expectations

Ardour Capital downgraded EnerNOC (NASDAQ: ENOC) to Hold with a price target of $14.00.

Ardour analyst says, "We expect ENOC to experience headwinds due to a challenging near term demand response market. Moreover, the lingering PJM double counting issue remains a concern. Going forward, strategic acquisitions that help build the business will create a strong presence in the European and Oceania markets, leading us to our positive free cash flow projections in FY12 and FY13."

For more ratings news on EnerNOC click here and for the rating history of EnerNOC click here.

Shares of EnerNOC closed at $14.36 yesterday.

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